stocks bent, but did not break as the debate rages on

8/3/2019 Stocks bent, but did not break as the debate rages on.

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Richard Suttmeier is the Chief Market Strategist at www.ValuEngine.com.ValuEngine is a fundamentally-based quant research firm in Newtown, PA. ValuEnginecovers over 7,000 stocks every day.

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December 13, 2011 St ock s bent, but d id not br eak as t he debate rages on.

The Dow Industrial Average held its 50-day simple moving average at 11.944, while the other

major averages stayed shy or their 50-day SMAs at; 1262.9 SPX, 2670 NASDAQ and 767.43Russell 2000. The yield on the 10-Year US Treasury is back below its 50-day at 2.069 as a signof a flight to quality ahead of todays FOMC meeting. Gold is below its 50-day at $1709.9 withmy semiannual pivot at $1644.8. Crude oil is between its 200-day SMA at $96.01 and my annualpivots at $99.91 and $101.92. The euro versus the dollar is trending below its 50-day SMA at1.3600. Weak euro / weak commodities and lower yields correlate to lower US equities.

10-Year Note (2.023) Semiannual, quarterly and annual value levels are 2.414, 2.669 and 2.690with the 50-day simple moving average at 2.069, a daily pivot at 1.999 and weekly, semiannual andmonthly risky levels at 1.923, 1.672 and 1.602.

Courtesy of Thomson / Reuters


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Comex Gold ($1669.2) Semiannual and annual value levels are $1469.9, $1644.8 and $1,356.5with my daily pivot at $1.89.6, and quarterly, weekly and monthly risky levels at $1738.4, $1766.0 and$1873.8, and the September 6th all time high at $1923.7. The 50-day simple moving average is a

support at $1709.0. The years low was $1535.0 set on September 26th

.


Nymex Crude Oil ($98.08) The October 4th year-to-date low is $74.95 with a monthly value level at$86.20, the 200-day simple moving average at $96.01, daily, quarterly, monthly and annual pivots at

$99.07, $100.34, $99.91 and $101.92, and weekly, semiannual risky levels at $105.72, $103.93 and$107.90. The high and low for oil happened on the same days as the Dow with the high at $114.83 pebarrel on May 2nd.



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The Euro (1.3183) My quarterly value level is 1.2598 with daily and weekly pivots at 1.3259 and1.3329, the 50-day simple moving average at 1.3600, and monthly and semiannual risky levels at

1.3953, 1.4752 and 1.4872.


Daily Dow: (12,021) The 200-day simple moving average is 11,944. Monthly, annual, and semiannuavalue levels are 11,794, 11,491, 9,635 and 8,468 with daily, weekly, quarterly and annual risky levels a12,112, 12,265, 12,507 and 13,890. The October 4th low was 10,404.49 with the May 2nd high at12,876.00..



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S&P 500 (1236.5) The October 4th YTD low is 1074.77 with annual and monthly value levels at1210.7 and 1211.8, the 200-day at 1262.9, daily and weekly pivots at 1248.2 and 1257.5, semiannual

value levels at 981.3 and 855.7, and quarterly and annual risky levels at 1303.7 and 1562.9. The YTDhigh is 1370.58.

NASDAQ (2612) The October 4th YTD low is 2298.89 with weekly, monthly, and annual value levelsat 2593, 2588 and 2335, semiannual value levels at 2199 and 2049, the 200-day at 2670, and dailyand quarterly risky levels at 2641 and 2807, and the YTD high at 2887.75. My annual risky level is3243.

NASDAQ 100 (NDX) (2293) The YTD low is 2034.92 with monthly and weekly value levels at 2282and 2249, the 200-day at 2291, semiannual value levels at 1951 and 1861, and daily and quarterlyrisky levels at 2319 and 2440, the YTD high at 2437.42, and my annual risky level at 2590.

Dow Transports (4907) The October 4th YTD low is 3950.66 with monthly and semiannual valuelevels at 4752, 4335 and 3868, the 200-day at 4984, and daily, weekly, annual, weekly and quarterlyrisky levels at 4939, 5075, 5179 and 5359, and the YTD high / all time high at 5627.85 on July 7 th.

Russell 2000 (733.15) The October 4th YTD low is 601.71 with a monthly value level at 695.30,semiannual value levels at 577.47 and 530.04, the 200-day at 767.43, daily and weekly pivots at738.18 and 748.86, and annual and quarterly risky levels at 784.16 and 802.96, and the YTD high / altime high at 868.57 on May 2nd.

The SOX (365.15) The October 4th YTD low is 322.24 with a monthly value level at 343.57, anannual value levels at 270.98, the 200-day at 395.56, daily and weekly pivots at 374.32 and 373.09,and quarterly risky level at 417.63, and the YTD high at 450.79.

Equity Fundamentals Stocks are not as compelling fundamentally. 74.5% of all stocks are undervalued / 25.5% of all stocks are overvalued. On October 4 th 93.5%

of all stocks were undervalued. Eight sectors are undervalued and eight sectors are overvaluied in a range from 13.0%

undervalued to 10.2% overvalued. Back in March 2009 the sectors were undervalued by 33%to 45%. Check out and subscribe to www.ValuEngine.com.

VE Morning Briefing If you want expanded analysis of the US Capital Markets including a FearlessPrediction of the Week and a Stock of the Day go to this link and sign up:http://www.valuengine.com/nl/mainnl?nl=D

ValuTrader Model Portfolio If you want to learn how to Buy and Trade use this link and sign up:http://www.valuengine.com/nl/mainnl?nl=V

ETF Weekly If you want my Value Levels and Risky Levels for 30 Electronically Traded Funds usethis link and sign up: http://www.valuengine.com/nl/mainnl?nl=U

ValuEngine FDIC Evaluation Report In this report I slice and dice the FDIC Quarterly BankingProfile. We publish a ValuEngine List of Problem Banks in this publication:http://www.valuengine.com/nl/mainnl?nl=C


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ValuEngine Capital Management - Over the years many of my readers have asked for investmenthelp based upon ValuEngine and my technical analysis expertise. This is now possible through VECapital Management LLC. If you are a Registered Investment Advisor looking for new products to offe

to your clients, let me know. If you have any questions, please respond to this email.

Definition of MOJO This is my term for technical momentum. I use whats called 12x3x3 slowstochastic readings from daily, weekly and monthly charts. The scale is zero to 10.0 where above 8.0is overbought and below 2.0 is oversold.

Buy and Trade Strategies for Long Positions Value Level The price at which you establish an additional long position on share price

weakness. This is done on a GTC Limit Order to buy weakness to the Value Level. Risky Level The price at which you remove a single long position or reduce a multiple

long position on share price strength. This is done on a GTC Limit Order to sell strength tothe Risky Level.

Buy and Trade Strategies for Short Positions Value Level The price at which you remove a single short position or reduce a multiple

short position on share price weakness. This is done on a GTC Limit Order to buy weaknesto the Value Level.

Risky Level The price at which you establish an addition short position on share pricestrength. This is done on a GTC Limit Order to sell strength to the Risky Level.

Richard SuttmeierChief Market StrategistValuEngine.com

(800) 381-5576

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As Chief Market Strategist at ValuEngine Inc, my research is published regularly on the website www.ValuEngine.com. I have daily, weekly, monthly, andquarterly newsletters available that track a variety of equity and other data parameters as well as my most up-to-date analysis of world markets. Mynewest products include a weekly ETF newsletter as well as the ValuTrader Model Portfolio newsletter. You can go tohttp://www.valuengine.com/nl/mainnl to review sample issues and find out more about my research.

I Hold No Positions in the Stocks I Cover.

stocks bent, but did not break as the debate rages on

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